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Total value of India's top 100 realty companies soars 70% in 1 year: Report

The total valuation of these companies in India currently stands at Rs 14.2 trillion: 2024 GROHE-Hurun India Real Estate 100 list

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Raghav Aggarwal New Delhi

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The cumulative valuation of the top 100 real estate companies in India rose by 70 per cent in the 12 months ending on May 31, 2024, according to a report released on Thursday. The report indicated that 86 of these companies saw an increase in value, contributing a total of Rs 6.2 trillion.

The total valuation of the top 100 realty companies in India currently stands at Rs 14.2 trillion.

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According to the 2024 GROHE-Hurun India Real Estate 100, Gurugram-based DLF is the most valued real estate company in India at Rs 2.02 trillion. Over the preceding 12 months ending May 31, it achieved a 72 per cent increase.

Following closely is Mumbai-based Macrotech Developers (Lodha) with a valuation of Rs 1.36 trillion, marking a 160 per cent increase, and Indian Hotels Company at Rs 79,150 crore (+43 per cent).

The growth of many of these real estate companies parallels the strong performance of the S&P BSE Realty Index, which grew by 110 per cent during the period under consideration.

In terms of value gain by percentage, Unitech led with an increase of 622 per cent, currently valued at Rs 2,590 crore, followed by Tata Realty with a 554 per cent gain to Rs 8,670 crore, and Puravankara with a 382 per cent growth to Rs 9,520 crore.

In absolute gain, DLF topped the list by adding Rs 84,620 crore to its value, followed by Macrotech Developers with a gain of Rs 84,220 crore and Prestige Estates at Rs 44,600 crore.

The report also noted that Adani Realty entered the top 10 rankings with a 62 per cent gain to Rs 56,500 crore, securing the seventh spot among the most valuable realty companies. It is the highest valued non-listed realty company in India.

Among the top 100 companies listed, 66 focus on the residential sector, followed by 19 in the office space and 10 in the hospitality sector.

Anas Rahman Junaid, founder and chief researcher at Hurun India, highlighted that India’s real estate sector is outpacing China in growth rate. China’s realty sector has faced stringent government scrutiny and a slowdown in demand.

“India’s market benefits from a young population, increasing urbanisation, and a growing middle class. Additionally, the implementation of the Real Estate (Regulation and Development) Act has improved transparency and accountability, boosting investor confidence,” said Junaid.

The report also revealed that these top 100 companies employ around 500,000 people, with Bengaluru-based Sobha leading with a total of 26,275 employees.

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First Published: Jul 11 2024 | 4:22 PM IST

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